The American Chamber of Commerce declared that the level of business in Albania is at the lowest point recorded since 2012. The report blames mainly the “lowest level of confidence from businesses since the Index’s inception in 2012”.
Another point highlighted is that even during 2020, the overall business sentiment in Albania was unfavorable, marking a drop by 0.5% from 2019.
More than 71% of AmCham members negatively evaluated the current situation, with only 9% giving a positive assessment, while 20% remained neutral.
80% of respondents declared that the performance of the Albanian economy, employment, investment, and trade exchange is on the decline.
Another 60% of the interviewed said that the current tax level is not competitive on a regional level.
“The Albanian government must drop many bureaucracies and make a more favorable climate for the foreign investors in order to attract more of them”, was one of the recommendations made by one of the participants.
The members of the American Chamber of Commerce emphasize the imperative need in tackling corruption.
The businesses interviewed in the report also complain private property is not respected, and recommend dismantling monopolies and abolishing oligarchy from every sector.
They call on the Albanian government to swiftly implement the reforms in order to boost the development of a market economy as well as enhance Albania’s role in the region.
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